According to Finance Minister Arun Jaitley, Indian economy grew by.....in the first quarter (April-June) of the current fiscal, the highest in over two years.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

According to Finance Minister Arun Jaitley, Indian economy grew by____in the first quarter (April-June) of the current fiscal, the highest in over two years.

A	7.20%
B	7.80%
C	8.60%
D	8.2%

Explanation:

Detailed explanation-1: -Nominal GDP (at current prices) in Q1 of 2022-23 is estimated at INR 64.95 lakh crore, showing a growth of 26.7 percent over the first quarter GDP in the last financial year.

Detailed explanation-2: -Moody’s Investors Service on Friday lowered India’s economic growth projection for 2022 to 7% from 7.7% earlier.

Detailed explanation-3: -In the OECD area, which comprises 38 countries including a dozen G20 countries, GDP growth is now estimated at 0.3% in Q1 2022. This figure has been revised from 0.1% growth estimated three weeks ago2 based on countries’ preliminary GDP releases.

Detailed explanation-4: -Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament today, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically.

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